In this piece, we will take a look at the five best performing energy stocks in 2023. For a deep dive into the energy industry and some recent trends, take a look at the 10 Best Performing Energy Stocks In 2023.
5. Ultrapar Participações S.A. (NYSE:UGP)
Year To Date Share Price Gains: 130.73%
Ultrapar Participações S.A. (NYSE:UGP) is a Brazilian downstream oil supply firm that markets and sells the products to consumers. During its third quarter earnings call, the firm’s management shared that favorable inventory adjustments and supply stabilization contributed to a triple digit operating income growth.
Insider Monkey’s third quarter of 2023 survey of 910 hedge funds revealed that nine had bought and owned Ultrapar Participações S.A. (NYSE:UGP)’s shares. In the same quarter, its biggest hedge fund investor was Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital due to its $11 million stake.
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Follow Ultrapar Participacoes S A (NYSE:UGP)
4. Dorian LPG Ltd. (NYSE:LPG)
Year To Date Share Price Gains: 131%
Dorian LPG Ltd. (NYSE:LPG) is an American liquefied natural gas (LPG) transportation firm. The firm impressed its investors with its growth trajectory in its financial results for the quarter ending in September as its revenue grew by 90% annually on the back of higher rates and fleet expansion.
During the same quarter, 16 out of the 910 hedge funds surveyed by Insider Monkey were the firm’s investors. Dorian LPG Ltd. (NYSE:LPG)’s largest shareholder in our database during Q3 was Jim Simons’ Renaissance Technologies as it owned $9.2 million worth of shares.
3. Geospace Technologies Corporation (NASDAQ:GEOS)
Year To Date Share Price Gains: 205%
Geospace Technologies Corporation (NASDAQ:GEOS) is a specialized industrial company that sells products that enable oil drilling companies to map out their fields. The firm was eager to tout its fiscal year 2023 as some of the best on record, as it turned a loss into a profit and delivered the highest revenue ($124.5 million) since 2014.
As of September 2023 end, four among the 910 hedge funds tracked by Insider Monkey had held a stake in Geospace Technologies Corporation (NASDAQ:GEOS). Paul Marshall and Ian Wace’s Marshall Wace LLP owned the biggest stake in September 2023 courtesy of its $662,613 investment.
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2. NGL Energy Partners LP (NYSE:NGL)
Year To Date Share Price Gains: 260%
NGL Energy Partners LP (NYSE:NGL) is an American oil and gas storage and transportation company. Like some other oil companies, it also benefited from higher oil prices in its third quarter which contributed to an operating income growth.
Insider Monkey’s Q3 2023 survey of 910 hedge funds for their second quarter of 2023 shareholdings revealed that two were the firm’s shareholder. During Q3, the biggest investor in NGL Energy Partners LP (NYSE:NGL) was Phil Frohlich’s Prescott Group Capital Management which owned $207,000 worth of shares.
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1. Prairie Operating Co. (OTC:PROP)
Year To Date Share Price Gains: 575%
Prairie Operating Co. (OTC:PROP) is an American oil company headquartered in Oklahoma City, Oklahoma. It has rights to roughly 37,000 acres of land in one of America’s fastest growing oil exploration regions, the DJ Basin in Colorado. The firm believes that by scaling up its operations in the area, it can increase production from 10,000 barrels of oil equivalent per day in 2026 to 17,000 by 2032.
While new oil exploration regions are tricky with risks of never pumping out the black gold, Prairie Operating Co. (OTC:PROP) can take solace in knowing that development activity in the region is picking up with big ticket names such as Chevron and Occidental operating in the DJ Basin.
You can also take a look at Citadel Stock Holdings: 12 Biggest Energy Stocks and 23 Richest Countries in Asia by GDP Per Capita in 2023.
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